At Moneybox, our mission is to help people build wealth with confidence so they can enjoy life, today and tomorrow. To do this, our team needs to be able to represent the full breadth of Moneybox customers and their needs.
This has always been central to the way we do things at Moneybox. We strive to maintain a culture that is safe, fair and where our team members can do their best work. Our Inclusion Committee, open to all teams and seniorities in the business, promotes diversity, and celebrates inclusion and equity for all team members – not just across genders, but also ethnicity, religion, sexual orientation, age, neurodiversity, disability and those with caring responsibilities. We also continue to take meaningful steps through targeted initiatives and ongoing conversations across the business. Our focus remains on creating a more equitable workplace, and we will keep working towards long-term, sustainable change.
2024 marks our third year of reporting on our Gender Pay Gap, a government-prescribed calculation that measures the difference between the average hourly pay for women and men, regardless of role, seniority, or performance.
What is our 2024 Gender Pay Gap?
Between 5 April 2023 and 5 April 2024, our Gender Pay Gap reduced. Our mean Gender Pay Gap has reduced from 29.4% to 21.7%, and our median Gender Pay Gap has reduced from 36.7% to 34.6%. This reduction was primarily driven by the retention of women within our senior teams, which led to a shift in representation at the highest pay quartile.
Although the gap has narrowed, and despite 50% of Moneybox team members and 42% of our senior team identifying as women, women are underrepresented in our engineering teams – particularly at a senior level – and this is reflected in our Gender Pay Gap again this year. This is an industry-wide theme, which we are responding to internally through our approach to hiring and developing female engineering talent.
Does a Gender Pay Gap indicate an equal pay issue?
No, our Gender Pay Gap does not mean that women are paid less than men for performing the same roles. The Gender Pay Gap measures the average hourly pay for women and men across the company, regardless of role, seniority, or performance—it is not a comparison of pay for individuals in the same roles. We ensure fairness and equity in pay, and we remain confident that people performing the same role at the same level are paid equally, regardless of gender.
Moneybox Gender Pay Gap: April 5th 2024
This reporting covers all UK team members’ pay as at the snapshot date of 5th April 2024 for Digital Moneybox Limited.
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Hourly Pay Difference in average hourly pay between those who identify as women and men. |
|
| Mean | 21.7% |
| Median | 34.6% |
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Hourly pay by quartile Split by quartile between those who identify as women and men |
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| Women | Men | |
| Lower Quartile | 61.0% | 39.0% |
| Lower Middle Quartile | 56.4% | 43.6% |
| Upper Middle Quartile | 35.9% | 64.1% |
| Upper Quartile | 31.2% | 68.8% |
Our focus on diversity, equity & includion (DE&I) at Moneybox
Beyond continuing the work set out in last year’s Gender Pay Gap Report, we are increasing focus in the following areas:
Diversifying our Talent Pool
To accelerate our 2023 focus on promoting gender diversity, we specifically targeted engineering and senior-level positions with balanced shortlists and proactive sourcing. Over four months, this yielded significant results: an average of 32% of shortlisted engineering candidates were women, and 40% of those hired were women.
Strengthening our Family-Friendly Policies
Understanding the challenges of balancing work and family, we’ve introduced a paid carer’s leave policy and enhanced our parental leave benefits. By providing paid time off to manage caregiving responsibilities, we aim to create a more supportive workplace for all our employees.
Interview Training & Recruitment Processes
Last year, we relaunched our interview training programme with a renewed focus on inclusive hiring practices and mitigating unconscious bias. Building on the 2023 inclusion training, we continued to develop engaging content and expand our managers’ knowledge base. This year, to further support equitable hiring, we are also refining our recruitment processes to better support neurodiverse candidates.
Employee Resource Groups
Last year, we relaunched our interview training programme with a renewed focus on inclusive hiring practices and mitigating unconscious bias. Building on the 2023 inclusion training, we continued to develop engaging content and expand our managers’ knowledge base. This year, to further support equitable hiring, we are also refining our recruitment processes to better support neurodiverse candidates.
Annual Inclusion Survey
Our annual Inclusion Survey closed in February 2025, providing valuable insights that have shaped our DE&I strategy for the year ahead. By gathering honest feedback from our team, we’ve been able to identify key focus areas, celebrate progress, and address challenges that matter most to our team. All questions report results that meet or exceed external benchmarks. These insights have reinforced the importance of our ongoing initiatives. They have also helped us refine our approach, ensuring that our efforts remain data-driven, impactful, and aligned with the evolving needs of our team.
We will keep holding ourselves accountable and report on our gender pay gap annually, and will also continue to develop our longer term DE&I strategy to ensure sustainable impact. To read more about our approach to diversity, equity and inclusion please check out our blog post here
I confirm that the gender pay gap information we have published is accurate.
Karen Kerrigan, COO